Model for sequential dynamic competition between random investment portfolios and portfolios selected by collective expert opinions
This paper discusses the issue of market efficiency and proposes an approach for its empirical testing. The essence of the methodology is comparing expert opinions with randomly selected portfolios and implementing all the good practices of Delphi method for conducting an expert survey. The proposed...
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| Dokumentumtípus: | Könyv része |
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2010
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| Sorozat: | Proceedings of the Challenges for Analysis of the Economy, the Businesses, and Social Progress : International Scientific Conference Szeged, November 19-21, 2009
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| Kulcsszavak: | Piaci hatékonyság, Pénzügy |
| Online Access: | http://acta.bibl.u-szeged.hu/57826 |
| Tartalmi kivonat: | This paper discusses the issue of market efficiency and proposes an approach for its empirical testing. The essence of the methodology is comparing expert opinions with randomly selected portfolios and implementing all the good practices of Delphi method for conducting an expert survey. The proposed approach also shares some similarities with the idea of prediction markets. The approach is yet to be validated empirically. |
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| Terjedelem/Fizikai jellemzők: | 579-598 |
| ISBN: | 978-963-06-9558-9 |